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Compared to Estimates, Fifth Third Bancorp (FITB) Q2 Earnings: A Look at Key Metrics
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Fifth Third Bancorp (FITB - Free Report) reported $2.18 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.3%. EPS of $0.87 for the same period compares to $0.79 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.19 billion, representing a surprise of -0.17%. The company delivered an EPS surprise of +4.82%, with the consensus EPS estimate being $0.83.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio (FTE): 56.2% versus 55.36% estimated by seven analysts on average.
Net interest margin (FTE): 3.1% versus the seven-analyst average estimate of 3.11%.
Average balance - Total interest-earning assets: $189.06 billion compared to the $188.97 billion average estimate based on six analysts.
Book Value Per Share: $23.05 versus $24.67 estimated by six analysts on average.
Return on Average Assets: 1.17% compared to the 1.21% average estimate based on six analysts.
Tangible Book Value Per Share: $15.61 compared to the $16.99 average estimate based on five analysts.
Return on average common equity: 13.9% versus the five-analyst average estimate of 13.5%.
Net Charge-off (% of Average Loans): 0.29% versus 0.27% estimated by five analysts on average.
Tier 1 common equity Ratio: 9.53% compared to the 9.38% average estimate based on four analysts.
Tangible common equity (including AOCI): $10.63 versus $5.74 estimated by four analysts on average.
Tier I risk-based Capital Ratio: 10.78% versus the three-analyst average estimate of 10.61%.
Total Nonperforming Assets: $663 million versus the three-analyst average estimate of $650.77 million.
Shares of Fifth Third Bancorp have returned +7.6% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Fifth Third Bancorp (FITB) Q2 Earnings: A Look at Key Metrics
Fifth Third Bancorp (FITB - Free Report) reported $2.18 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.3%. EPS of $0.87 for the same period compares to $0.79 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.19 billion, representing a surprise of -0.17%. The company delivered an EPS surprise of +4.82%, with the consensus EPS estimate being $0.83.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Fifth Third Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE): 56.2% versus 55.36% estimated by seven analysts on average.
- Net interest margin (FTE): 3.1% versus the seven-analyst average estimate of 3.11%.
- Average balance - Total interest-earning assets: $189.06 billion compared to the $188.97 billion average estimate based on six analysts.
- Book Value Per Share: $23.05 versus $24.67 estimated by six analysts on average.
- Return on Average Assets: 1.17% compared to the 1.21% average estimate based on six analysts.
- Tangible Book Value Per Share: $15.61 compared to the $16.99 average estimate based on five analysts.
- Return on average common equity: 13.9% versus the five-analyst average estimate of 13.5%.
- Net Charge-off (% of Average Loans): 0.29% versus 0.27% estimated by five analysts on average.
- Tier 1 common equity Ratio: 9.53% compared to the 9.38% average estimate based on four analysts.
- Tangible common equity (including AOCI): $10.63 versus $5.74 estimated by four analysts on average.
- Tier I risk-based Capital Ratio: 10.78% versus the three-analyst average estimate of 10.61%.
- Total Nonperforming Assets: $663 million versus the three-analyst average estimate of $650.77 million.
View all Key Company Metrics for Fifth Third Bancorp here>>>Shares of Fifth Third Bancorp have returned +7.6% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.